[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 1.25 MB, 1274x952, 997534524546.png [View same] [iqdb] [saucenao] [google]
26192349 No.26192349 [Reply] [Original]

IT CAN'T FUCKING SCALE. HOW MANY TIMES DO WE HAVE TO SAY THIS?!?!

ETH is pure spaghetti code. ETH was without a doubt a great idea; I will not deny that at all. However, most people in crypto don't have the comprehension or knowledge to be able and look at the code-base and identify flaws that could be catastrophic, both in terms of economic, security, and overall functioning in cost signals.

Vitalik is smart. However, he's the most retarded smart person in all of crypto. He's a fucking child who doesn't own up to his inability to produce a creation and has longevity. Him and his cronies wrote shitty-ass code. It can't scale. The only way it can scale is constant upgrades each time they feel things are getting congested. This is where the problem lies. It is impossible for ETH to implement a scaling solution to where it doesn't need upgrades anymore. For ETH to work, it will need constant upgrades of ETH 2.0, 3.0, 4.0, so on and so forth for an indefinite amount of time - just kicking the can down the road. Off-chain scaling won't work either because ETH's security is already shit on a stick. Making something more complicated that is already a piece of shit is 100% pointless. People can never steadily develop something on ETH because with each 'scaling upgrade', those who are creating on ETH will have to pivot each time to ensure their product is compatible to work on ETH. To sum it up, each time ETH decides to upgrade to scale, it just gets worse.

For ETH to work to the level needed, the amount of ETH in ever single wallet needs to be known after each transaction. Since ETH cannot implement SPV, it's impossible for ETH to scale because it does not have the capabilities to know the exact amount of ETH in every single ETH wallet after each transaction at a massive scale.

The only way to permanently fix ETH would be to roll back the chain to the beginning almost. Vitalik is just your average Russian retard who can't produce anything of value.

>> No.26192375

>>26192349
>IT CAN'T FUCKING SCALE
Who cares? If it pumps it pumps

>> No.26192401

>>26192349
I love when Charles Hoskinson shitposts on /biz/ when ETH is pumping. That's what you get for stagnating.

>> No.26192406

suck my dick charles

>> No.26192474

>most devs on eth
>most institutional adoption
>defi/nfts/insurance/currency and more on eth
>eth2.0 coming, scaling solutions are here L2
>EIP1559
>TVL locked in efirium dapps: 24 billion

>> No.26192476
File: 11 KB, 645x773, 1609802774132.png [View same] [iqdb] [saucenao] [google]
26192476

numba go up

>> No.26192834
File: 575 KB, 1176x590, ethscalingcliff.png [View same] [iqdb] [saucenao] [google]
26192834

Talk to any engineer in the space. We can see that Eth is driving off a cliff. Rolls ups suck ass. Sharding sucks ass. Sharding and roll ups are incompatible. Everyone loves jerking off about "DeFi Composability". Pretty much all of that goes away once we get shards.


Reminder that investors, even the "smart money", in this space are largely peanut brains who are pumping their bags. They have no clue what they are talking about. The level of technical incompetence in crypto really blows my mind.

No one talks about pic related... Once shards get smart contract execution, rollups will be incompatible, and not only will your TPS drop but all of that effort spent on Layer 2 will go away. How the fuck does Vitalik expect the ecosystem to invest in Layer 2 solutions when they are all gonna get deprecated in a year or two. This is pure delusion.

Despite all of this, Ethereum will probably still pump because there are enough idiots to follow the herd.

>> No.26193025

>>26192834
lol so mr. pajeet thinks he knows better than all the actual devs on efiriam

>> No.26193135

>>26192834
This. Seriously, what is the point of Ethereum?

This is very funny and I laugh at the unquestioning vapidity of people who say "smart contract" and just let other people fill in the details as to what that should mean and what the value should be. The mistake here is that "smart" is a misnomer. A contract, as we have known them for many hundreds of years, is already smart because it can often require the work of a solicitor or barrister to argue for or against the individual clauses of a contract; contract wording requires interpretation and that can require some of the highest order thinking. It is therefore smart.

A contract on Ethereum, then, isn't smart. It is a dumb contract. It is dumb in the sense that it executes itself, whether it has been audited and validated or not. And for that reason, you get fraud, after hack, after loss, after gimmick, after scam and essentially fuck all in-between.

And for what reason would anybody need to run computer programs in a decentralised way? What the fuck is the point? I can understand a currency being decentralised; that is completely intuitive and innovative, but running programs is useless as it is so insanely inefficient. Anything you could run on Ethereum you can run on AWS and it will be cheaper, faster and more secure, therefore resolving the trilema and revealing Ethereum to be completely and I mean COMPLETELY redundant. Just because something can work doesn't mean it has value, much like a kettle connected to a dynamo on an exercise bike would work. Ethereum is a fucking joke.

>> No.26193190

>>26193025
>all the devs
Do you realize how few developers are actually working on Ethereum 2.0? Its like under a dozen people.

Ethereum been struggling to hire developers for a while. Vitalik has even said so publicly a few times. Anyone with the talent to work in this space realizes Ethereum is a dead end. The crypto developer community is pretty insulated from you traders.

But don't worry dude you will get your pump I'm sure. But you won't be getting a global smart contracts platform.

>> No.26193203

>>26192349
To all newfags reading this: complete nonsense. It is a classic eth fud being used time and time again. ETH has all bases covered.

>> No.26193299

>>26193203
I'm not evening FUDing. Ethereum probably will pump. All of you will probably make money trading it.

But it is a technological disaster, and will never achieve its goals.

>> No.26193324

>>26193203
Eth are safu?

>> No.26193493

/biz/ is such a shitshow, this thread is a good example, every single poster in here is a retard. You trust ETH blindly, it is spaghetti code. But OP is just mad that it pumps without him.

>> No.26193526

>>26193493
It's all so tiresome.

>> No.26193788

Developer activity is particularly strong across Bitcoin, Ethereum, some Layer 1s, and Decentralized Finance

>Bitcoin ecosystem has 70%+ more developers than it did 3 years ago
>300+ new developers per month commit to the Ethereum ecosystem
>67% increase in monthly active developers in Decentralized Finance since January 2020

https://medium.com/electric-capital/electric-capital-developer-report-2020-9417165c6444

>> No.26193842

It creates a demand for that porn which mandates an increase in supply, Vitalik. God damnit man, get your shit together.

>> No.26193876
File: 88 KB, 328x277, image.jpg [View same] [iqdb] [saucenao] [google]
26193876

>>26192349
bears really getting nervous on this board
see you at $5k

>OP in one week

>> No.26193923

>>26192834
stop bullshitting, each shard of ETH2 will be fully capable of rollups so you get 25k-100k tps per shard. cross-shard communication will always be expensive though, but most of defi will probably live on the same shard anyway.

>> No.26193938

>>26192834
Shard shard shard
Already solved.
You’re to fucking stupid to realize it faggot.

>> No.26193948

>>26193923
Shards will only be rollup compatible when they are in the data-layer only mode. Once you have full execution on shards, they won't be rollup compatible.

>> No.26193995

>>26193135
Hi poo

>> No.26194039

>>26193948
if that turns out to be the limiting factor then someone will probably suggest to not move to full EVM support in the shards.

>> No.26194064
File: 18 KB, 398x398, 3B8737F5-08A6-4A7F-B9B4-E15810CAD027.jpg [View same] [iqdb] [saucenao] [google]
26194064

>>26192349
It really is a shame that the best coin in terms of operability and scalability is managed by a group of dopes who care too much about trolling BTC and BCH devs

>> No.26194116

>>26194039
Yes this is being discussed. But there is a lot of internal debate about this because it kind of leaves Eth beholden to the Layer 2 chains, as that is where all of the real action will be happening. Ethereum has enough trouble with coordination as it is, trying to coordinate with and across layer 2 companies/foundations does not bode well.

For Ethereum 2.0 to be a true sharded blockchain, it will need to shed off the rollups.

>> No.26194231

you are right but it will still pump, i am not gonna hold it for the long term though

>> No.26194301

Thanks for the FUD, I'm not selling

>> No.26194458

>>26192349
So it needs updates. Big fucking deal.

>> No.26194512

>>26193135
Parler would have enjoyed some powerful decentralized servers being available when the Amazon ones kicked them out.

4chan could also use that for the upcoming ban.

Criminals, nazis, other non kosher individuals, CP, drugs, etc. all need decentralized, so do terrorists.

Now you might argue that's all bad. I'd argue good is a perspective and the flip side of evil is someone else's freedom.

>> No.26194547

>>26192375
this, blessed green ID knows.
Fucking seethe you fundamental faggots. The people making big money do not give a single fucking shit about the project. We only dislike getting rug pulled so we prefer high MCAP

>> No.26194584

>>26193135
To add to my previous use cases for Evil Inc, the best use case may be protecting private ownership from governments.

If the IP of an object is handled on a blockchain, or if the deed to something is on a blockchain that is decentralized no local authority can seize it durably.